21-Year-Old Indicted by DOJ in $37M Cyber Intrusion and Crypto Theft Case

B. Ali
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A 21-year-old Indiana man has entered a guilty plea to charges of bitcoin theft and cyber intrusion in a large-scale scam that affected hundreds of victims.

His acts included stealing cryptocurrencies valued at over $37 million, as well as personal information, and law enforcement attributes his capture to extensive investigation work.

The FBI has cracked the global cryptocurrency theft network.

Evan Frederick Light, a 21-year-old from Lebanon, Indiana, entered a guilty plea to charges of cyber intrusion and bitcoin theft, according to a Tuesday announcement from the U.S. Department of Justice (DOJ).

He was charged with both a conspiracy to launder money instruments and a conspiracy to commit wire fraud. We have not yet set a sentencing date, and each charge in the case carries a maximum sentence of 20 years.

In February 2022, Light committed his crimes during a cyberattack on a South Dakota investment holdings organization. The DOJ provided specifics:

During the cyberattack, Light obtained consumer PII (personally identifiable information) and proceeded to pilfer cryptocurrencies valued at more than $37 million from approximately 600 victims. He did it for one or more anonymous offenders.

“These convictions reflect the relentless efforts of the U.S. Attorney’s Office and the FBI in identifying a cybercriminal, holding him accountable, and prioritizing the victims of his crimes,” U.S. Attorney Alison J. Ramsdell said, commending the actions of law enforcement.

Using fictitious customer identities, Light gained access to the company’s systems and exfiltrated information to steal cryptocurrency. According to the Justice Department:

He was able to gain access to the computer servers and proceeded to exfiltrate hundreds of other clients’ personally identifiable information.

With this access, he was able to steal virtual currency from clients who had assets owned by the investment holdings company.

The FBI asserts that Light dispersed the stolen money globally. According to the DOJ, “Light controlled the stolen cryptocurrency and used it to fund multiple gambling websites and mixing services around the world to conceal his identity and the virtual currency.”

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